BRICs sign blockchain agreement
The Memorandum of Understanding is aimed at exploiting the technology "in the interests of the development of the digital economy."
The Memorandum of Understanding is aimed at exploiting the technology "in the interests of the development of the digital economy."
The certificate was registered using technology provided by a local startup and IBM.
The Brazilian bank will work with MUFG on Ripple-based international money transfers.
The offering reduces wire processing time from two days to two hours.
The proof of concept was carried out using R3's Corda Connect open source platform and aimed at simplifying the process underpinning syndicated loans.
The Brazilian company said this was an important milestone towards sales digitization.
The transaction led by local construction giant Cyrela and startup Growth Tech used IBM Blockchain technology.
The roll-out has been delayed due to a workers' strike at the country's Central Bank.